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our 2020 fees
We update our bank fees on 1 March every year. Last year, we helped our clients save over R200 million by lowering our digital banking fees. For the second year in a row, we will not be increasing these fees in 2020.
As the country’s leading digital bank with over 6.9 million digital clients, we’ve kept our digital banking fees affordable.
Here are ways you can save with our bank fees:
Opt for digital banking
Electronic payments fees on app, phone and internet banking (R1) will not increase, while transfers between own accounts and email statements are free on digital platforms.The purchase of airtime and electricity will cost R0.50. We also continue to lead the market for immediate payments with a minimal R8 fee, compared to the industry average of about R50. A good rule of thumb is to remember that transactions involving cash or people are more expensive, rather do digital transactions.
Earn interest on your transaction account
With Global One, you earn interest on a positive balance on your main transactional account. This could be more than your monthly banking fees. The monthly admin fee remains the same at R5, which includes your transaction account, 4 free savings plans, cellphone banking (our app and *120*3279#) and Internet Banking.
Withdraw at retailers instead
Cash withdrawal fees at retailers provide an alternative to ATMs and are an affordable R1.20 per withdrawal. Clients can get cash at Pick n Pay, Shoprite, Checkers or Boxer stores nationwide. Withdrawals from Capitec branded ATMs are slightly up from R6 to R8 (per R1000), while withdrawals from non-Capitec ATMs are now R9 per R1000 (from R8).
Use your card for travel
International card payments remain free and Capitec continues to charge no currency conversion fees when clients select to pay in the local currency, which can save you thousands of Rands during a single holiday. Use your Capitec card anywhere in the world you see the Mastercard logo.
R0
- Pay with your card or shop worldwide
- Transfer money between your own accounts
- Email statements from the banking app or on internet banking
- Access your accounts on the banking app or internet banking (zero data costs)
R1
- Payments and transfers on the app or internet banking
R1.20
- Cash withdrawal at till points
R3.50
- Debit orders
R5
- Monthly admin fee
R7
- In-branch payments and transfers
R8
- Immediate payment on app and internet banking
R8 per R1000
- Cash withdrawal at Capitec branded ATM
R9 per R1000
- Cash withdrawal at any other ATM in South Africa
The bank’s full 2020 price list available from 1 March.
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